Wednesday, August 12, 2009

UPDATE: Suzanne Somers

Way back in the Dark Ages, in January of 2008, Your Mama discussed a property called Les Bauxde Palm Springs, the lavishly quirky Coachella Valley compound of Suzanne Somers and her huzband Alan Hamel. Back then the asking price for the 73 acre property with a total of 10 bedrooms, 11 terlits and one damn funicular was a sphincter tightening $35,000,000.

Since then, MizSomers and Mister Hamel have not only allowed the property to be featured on a recent episode of comedienne Kathy Griffin's reality program Life On The D List, they've sliced, diced, cleaved and clipped the asking price all the way down to $12,900,000. That's right kids, $12,900,000. A few flicks of the well worn beads on our bejeweled abacus reveals that to be a stupefying 61% reduction.

Many have argued that the nonpareil property was not worth thirty-five million clams in the first place and some will bicker about whether it's worth $12,900,000 now. Whatever it's worth, to the children or whomever ends up buying the pseudo-Franco spread, it's definitely worth another look because no matter what one thinks of the countless number of zebra rugs, the insanely large and undeniably dangerous pot rack that hovers above the breakfast table or the 3 million year old polished fossil stone sink in one of the powder poopers, it's truly a tour de force of architectural siting and an extravagant and elegantly rustic example of an intensely personal if somewhat campy and dee-lishusly hyperbolic interior day-core.

There may have been no takers due to the extremely slow realtors’ website. I had time to leave the room, ‘re-apply’ & come back to the office & it was still loading. Don't slash the price, slash the agent!

Thanks Mama. It IS a beautiful property. I was one of those who honestly thought it was originally listed for an exorbitant amount. I think you lose your best chance to sell a property for the best price possible when you start off listing it for an utterly unrealistic figure. First impressions matter, and when you create an offputing one to begin with, especially in this market, you give prospective buyers no reason to believe that you're serious about selling it, or will be worth the time to negotiate with.

Hugh Heffner made a wise decision in accepting Daren Metropoulos's offer on his estate even though it was for subtantially less than he listed it for. Apparently the lessons provided by Susan Saperstein when she turned down a generous offer for her estate, and the one Cher blew for her estate, weren't lost on him.

I'm beginning to see how celebrity real estate works; everyone lists their damn houses for $35,000,000 regardless of their architectural merit, location or original purchase prices. Then they just keep reducing the price until finally, a few ice ages later, someone bites. I could never be a real estate agent; I would end up spitting my Perrier in the star's face at the contract signing when Mr. and Mrs. Celebrity pulls one of these outrageous listing prices out of their asses. Or is it the agents coming up with these nutty prices?

I saw it the other day on Kathy Griffin: My life on the d-list, and I remembered that it was for sale, but seeing that she was still there I assumed that it had yet to sell.For those of you who didn't see the episode, it on youtube. It gives a different prespective on the house.http://www.youtube.com/watch?v=fmOZ_dcuHnY

Preppy, I totally agree. There seems to be a trend in higher end west side LA properties to list them for at least double what they're worth, wait for a few offers to trickle in (if lucky), and then accept the highest one. I'm fascinated with real estate, like a hobby of sorts, and would also hate having to depend on the inflated expectations of clients to make a living at this particular time. The new real estate reality is that almost no one is willing to pay a dollar more for a property than they're absolutely certain they can get back out of it, and I don't see that changing any time soon.

It's pretty obvious that the house wasn't worth $35M, but I'm wondering what the 73 acres of property might be worth. I don't know anything about CA., but is it possible that Miz Somers was hoping that the land itself was ripe for development and was hoping a developer would be interested. I guess what I'm really asking is, what was the value of all that land back in January 2008?

Hey!.........just a "shout out" to anyone who didn't go back and read Mama's older post on this property.......it is a classic and well worth taking the time. "a silver mine worth of picture frames".....you have to love that!

"but I'm wondering what the 73 acres of property might be worth. I don't know anything about CA., but is it possible that Miz Somers was hoping that the land itself was ripe for development and was hoping a developer would be interested." - Anonymous

That's what I was wondering, but after looking at google maps and the pictures, it seems to be mostly hills / mountains. And by the look of things much of the real estate in the neighborhood is on the flats or at the foot of the hills which would impact the price since its more expensive and time consuming to build on a hillside.

I thought her career had tanked after she got fired from Three's Company. And now all she seems to do is sell things on TV. Did she get a very rich husband? I don't understand exactly how she went from fired to a 35 million dollar house. Color me ignorant and/or confused.

Suzanne Somers has an amazing house. When watching Kathy Griffin: My Life on the D List I was stunned at how gorgeous it is. So personal, so detailed, everything is over the top fabulous.

However...it was never worth $35 million. Never, ever, ever. $13 million sounds just about right. Like the first poster said, they bought the place for $300,000 in the 70s, they're making a ton of money if they get anywhere near what they're asking.

My bet is that Suzanne has grown tired of life in the desert. Her son, Bruce, is in LA with his wife and kids, the same goes for Alan's daughter.

Alan and Suzanne are currently renting a beach house in Malibu while they rebuild where their burned down beach house used to be. Methinks Ms Somers wants to stay closer to the action in LA rather than arid Palm Springs.

It annoys me when people like Anon 3:58 say something like, "I don't understand exactly how she went from fired to a 35 million dollar house." This is NOT a $35 Million dollar house unless it sells for $35 Million dollars and it's not a $12.9 Million dollar house unless it sells for that price. Just because someone slaps an asking price on a house doesn't mean it's worth that. I paid $1.2 Million for my house many years ago, if I put it up for sale for $500 Million dollars that doesn't mean I have a $500 Million dollar house. An asking price is an absolutely meaningless number...

Not much, most of it behind the house is very steep rocky hillside. Not worth much but water shed. If you can't build on it than it is just a buffer between you and your neighbors that you pay taxes on!

And if they cut the price that much, than they are willing to slash it way more for some sucker that wants it. Keep watching and waiting.

Really is amazing that people will still pay these prices. Five years from now people will look back and think what were they thinking, paying that much? That is why everyone in New York and LA is trying to quickly and quietly sell off their now overpriced estates for as much as they can get!Last Call.

I'm wondering how much over budget the Malibu house is running and if that's what prompted the severe price chop.

Preppy, it is the clients who come up with the outrageous prices, to go along with their outrageous egos. The skilled agents talk the prices down slowly through the listing period. If they are lucky, they hold on to the listing.

Anon: 11:20...would you have been happier if I had said "..to a house for which she could dare to ask 35 million....". I was merely using the asking price because it was there. I wasn't going into the exact value of the house in my post and I wasn't saying the house was worth what was being asked.